Fmr LLC Purchases 564,693 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

FMR LLC raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,640,788 shares of the insurance provider's stock after purchasing an additional 564,693 shares during the period. FMR LLC owned approximately 8.56% of Reinsurance Group of America worth $1,205,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its position in Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider's stock worth $239,911,000 after buying an additional 893,537 shares in the last quarter. Norges Bank acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $174,082,000. Raymond James Financial Inc. bought a new stake in Reinsurance Group of America in the fourth quarter valued at about $48,724,000. JPMorgan Chase & Co. raised its position in Reinsurance Group of America by 47.7% in the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider's stock worth $79,512,000 after purchasing an additional 117,829 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Reinsurance Group of America by 234.7% during the fourth quarter. LPL Financial LLC now owns 108,229 shares of the insurance provider's stock valued at $23,121,000 after purchasing an additional 75,891 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

Several research firms recently commented on RGA. Royal Bank of Canada restated an "outperform" rating and set a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. JPMorgan Chase & Co. raised Reinsurance Group of America from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $232.00 to $237.00 in a report on Wednesday, April 2nd. Piper Sandler lowered their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Reinsurance Group of America from $264.00 to $246.00 and set an "overweight" rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.15.

Reinsurance Group of America Trading Up 2.4 %

Reinsurance Group of America stock traded up $4.19 during mid-day trading on Friday, hitting $177.76. The stock had a trading volume of 557,958 shares, compared to its average volume of 407,418. The stock has a market capitalization of $11.74 billion, a PE ratio of 16.55 and a beta of 0.70. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $193.93 and a two-hundred day simple moving average of $210.55.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 2.00%. Reinsurance Group of America's dividend payout ratio is currently 33.15%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.